Tag: Galaxy S6

Samsung partners with Oberthur Technologies for launch of mobile payments service

Oberthur Technologies will assist in the deployment of Samsung Pay in Europe

Samsung is preparing to launch its own mobile payments platform, called Samsung Pay, later this year and the company has chosen to partner with Oberthur Technologies in order to launch the service in Europe. Oberthur Technologies provides end-to-end service for digital payments and will help deploy Samsung Pay in several European countries. Samsung Pay is set to compete with other mobile payments services that are also expected to be launched in Europe later in the year.

Mobile payments continue to grow among consumers

Samsung Pay is designed to allow people to make purchases from their phones. While this is not a novel feature, the platform can be used in physical stores to make payments, replacing credit cards and cash. The platform makes use of NFC technology, which is capable of transmitting digital information over short distances. With an NFC-enabled mobile device, consumers will be able to use Samsung Pay in stores that have NFC-enabled point-of-sale systems. Currently, a relatively small number of retailers support such technology, but that is changing as mobile payments become more popular.

Samsung intends to uphold the convenience of mobile transactions

Mobile Payments - SamsungMobile payments have become an important focus for companies like Samsung. These companies see a great deal of promise in the mobile payments space, as consumers have shown great favor for platforms that allow them to make payments in convenient ways. This convenience is the soul of mobile payments and has been one of the sector’s most attractive features. Samsung is hoping to make its payments service as convenient as possible in order to ensure that it is appealing to consumers.

Samsung will have to fight for attention amongst other companies involved in mobile payments

Samsung Pay is expected to come pre-installed on the new Galaxy S6 and Galaxy S6 Edge devices. These devices are likely to be launched later this year. Samsung will have to compete aggressively in order to win the favor of merchants and consumers alike, vying for attention against other companies that have launched similar mobile payments service in the past few months.

Samsung may be set to unveil its own mobile payments service

Samsung rumored to be ready to reveal new payments service along with its new devices

Samsung is gearing up for the unveiling of its new Galaxy S6 smartphone, as well as several other devices, but it’s the company’s push into the mobile payments space that may generate a veritable tidal wave of hype. Samsung is set to host it’s Galaxy Unpacked event at the beginning of March, and many industry analysts believe that the company will showcase its new mobile devices during that time. They also suggest that Samsung will announce its new mobile payments system, called Samsung Pay.

Galaxy S6 may support Samsung’s entry into the mobile commerce sector

Samsung is expected to reveal the new Galaxy S6 at its upcoming event, as well as the Galaxy S6 Edge, which features a dual-edge display. These devices will be the next step in the evolution of Samsung’s already rampantly popular Galaxy brand and they are expected to support the company’s potential bid for dominance in the mobile payments field. Samsung Pay is rumored to be based on technology developed by LoopPay, a mobile commerce firm that has recently partnered with Samsung.

Samsung Pay may make use of technology developed by LoopPay

Mobile Payments ServicesReports suggest that the new payment service will take advantage of a non-swipe fingerprint scanner that will be featured in the Galaxy S6. This will allow users to place their finger on the device’s Home button to unlock the phone and authenticate mobile transactions. The new service from Samsung will also use a tokenization system that has been developed by LoopPay. Tokenization has become quite popular in the mobile payments space as it removes the need to use a consumer’s financial information directly, replacing this data with digital tokens.

Tokenization could make mobile payments more secure

A tokenization system could give Samsung Pay a competitive edge over other payment services. Because mobile commerce deals in the trafficking of financial information, it has become a popular target for malicious groups that seek to exploit this information. With digital tokens, there is no direct use of financial information, and these tokens can help make mobile payments much more secure than they are currently.